Thursday,13 February 2025 08:16:35

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Thursday,13 February 2025 at 08:13

UK and European stocks are heading for a higher open, amid a flurry of earnings and economic data. The U.K. economy grew by 0.1% in the fourth quarter, ahead of expectations for a 0.1% contraction, according to a preliminary estimate from the U.K.’s Office for National Statistics.

Asia-Pacific markets mostly rose as investors digested U.S. President Donald Trump’s tariff impact on regional economies. U.S. Federal Reserve Chair Jerome Powell, meanwhile, re-emphasized on Tuesday the central bank’s focus on curbing inflation and signalled that policymakers were not in a rush to push interest rates lower.

Gold prices steadied, buoyed by safe-haven demand amid fears of a global trade war spurred by U.S. President Donald Trump’s new tariffs as the market digested hotter-than-expected U.S. inflation data.

Prices dropped over 1% after data showed the U.S. consumer price index jumped 0.5% last month, more than expected, reinforcing the Fed message that it was in no rush to resume cutting interest rates amid growing uncertainty over the economy.

In corporate news, Barclays saw profit before tax jump over the last three months of 2024 to reach £1.7bn, versus £0.1bn one year before.

Multinational consumer goods company Unilever said it expected a slow start to the current financial year with "subdued" market growth in the near term and announced a €1.5bn share buyback after a 12.6% rise in annual profit to €11.2bn.

Relx reported solid financial growth for 2024, with revenue rising 7% on an underlying basis to £9.43bn and adjusted operating profit increasing 10% to £3.2bn.

Markets

AT 08:10

FTSE 100 8,767 (-0.46%)

FTSE 250 20,908 +0.13%

DAX 22,148 +0.50%

AT THE CLOSE

Dow Jones 44,368 (-0.50%)

S&P 500 6,051 (-0.27%)

NASDAQ 19,649 (-0.03%)

Fixed Income

UK 10-YR YIELD 4.551

Exchange Rates

GBP/USD 1.249

GBP/EUR 1.198

Commodities

Gold $2,914 +0.35%

Brent $76.46 (-0.57%)

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.